As Election Night unfolded, digital asset markets erupted, with Bitcoin soaring past a record-breaking $75,000, reflecting growing optimism about Trump’s victory. Crypto-linked stocks, including giants like Coinbase and MicroStrategy, also saw a notable boost during after-hours trading on Tuesday.

With a Republican-controlled Senate in sight, Trump faces few barriers in implementing a more pro-crypto agenda. Here’s a closer look at some of the bold promises he’s made for the crypto industry:

Trump’s Strategic National Crypto Stockpile: A Bold Promise for Bitcoin’s Future

During a high-profile appearance in Nashville this July, Trump took center stage at the largest Bitcoin conference of the year. In his keynote address, he made a bold pledge: if he reclaims the White House, he would guarantee that the federal government would never sell off its Bitcoin holdings. However, he stopped short of proposing an official federal reserve for digital currencies.

“For too long, our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin,” Trump emphasized during his speech.

The former president further committed to preserving the U.S.’s current Bitcoin stash, which has been acquired through the seizure of assets from financial criminals. “If I am elected, it will be the policy of my administration to keep 100% of all the Bitcoin the U.S. government currently holds, or acquires in the future,” Trump declared, drawing significant applause from the crypto community.

At present, the U.S. Marshals Service regularly auctions off Bitcoin and other cryptocurrencies such as Ether and Litecoin from the government’s holdings. While these auctions are a routine part of asset recovery, they often have a noticeable impact on the market, sometimes causing crypto prices to dip. This was especially evident earlier this year when Germany began liquidating hundreds of millions of dollars’ worth of Bitcoin seized in criminal investigations, triggering a sharp price drop in the process.

Trump’s Bold Promise: “On Day One, I Will Fire Gary Gensler” – A Stance Against Aggressive Crypto Regulation

For months, Trump has made waves with a striking promise to unseat U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. His stance is clear: “On day one, I will fire Gary Gensler,” Trump declared, pointing to the Biden-appointed SEC chairman who has been at the forefront of taking a tough stance on crypto regulation.

While the president may express his intentions, Trump does not hold the legal authority to directly fire the SEC chair. Even if he were to appoint a new chairman, Gensler would still retain his position as a commissioner on the independent agency, making the promise more symbolic than actionable.

Gensler’s Tough Stance on Crypto: Trump’s Plan for a Pro-Crypto Future

Under Gary Gensler’s leadership, the SEC has launched over 100 actions against crypto firms, asserting that much of the industry should already fall under its jurisdiction. In several interviews, Gensler has maintained that his lawsuits are aimed at bringing the sector into compliance, viewing his aggressive regulatory approach as necessary to establish order within the space.

However, many crypto firms argue that these legal actions have done little to provide the regulatory clarity the industry has long sought. Instead, they see it as an alarming case of government overreach that stifles innovation and growth in the crypto world.

In response to the current regulatory environment, Trump has promised to create a “Bitcoin and Crypto Presidential Advisory Council”. His vision is clear: “The rules will be written by people who love your industry, not hate your industry,” he emphasized, signaling a shift toward more supportive regulation.

Trump has also vocalized his disdain for Sen. Elizabeth Warren, D-Mass., a politician the crypto community considers a significant threat to the future of digital assets. His comments reflect a clear desire to counter the anti-crypto sentiment coming from certain corners of Washington.

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Trump’s Vision for Bitcoin: A Future of American-Mined Crypto

In June, a small yet influential gathering took place at Mar-a-Lago, Florida, where about a dozen Bitcoin mining executives and experts met with Trump for an intimate hour-and-a-half session. This marked the first time the former president engaged with the technologists behind the $1.5 trillion Bitcoin network, securing it by running high-powered mining machines.

The meeting brought together some of the biggest players in American Bitcoin mining, including representatives from Riot Platforms, Marathon Digital Holdings, Terawulf, CleanSpark, and Core Scientific.

Less than four hours after the meeting, Trump took to Truth Social, passionately declaring his vision for Bitcoin mining in the U.S.: “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”

Since then, Trump has reiterated this sentiment, stating, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” during his Nashville speech. He even joked, “We will be creating so much electricity that you’ll be saying, ‘Please, please, President, we don’t want any more electricity. We can’t stand it!’”

Trump’s Economic Vision: Lower Rates to Boost Crypto and the Economy

In August, Trump made headlines by promising to lower interest rates if elected. This would impact the Federal Reserve, which controls the country’s monetary policy and sets the benchmark interest rate. However, the Fed operates independently from the White House.

In September, Fed Chair Jerome Powell implemented the first rate cut in four years, slashing rates by half a point. Historically, rate cuts and looser monetary policies tend to boost crypto prices, as it becomes cheaper for people to borrow money, potentially fueling further investment in digital assets.